11am update - set for a holding pattern

Having seen an opening reversal from sp'1834 to 1861, the market looks set for increasing chop ahead of Yellen. It would seem the bulls will manage to hold the key low of 1812 before the CEO of PRINT central will inspire a week of upside. Right now, target is 1960/70 zone, with VIX <20.


sp'60min

VIX'60min

Summary

Little to add.

The only hurdle for the market to cope with between now and Yellen is Oil. The API report is due AH, so that will probably sway things a little overnight/early tomorrow.

Other than that... we look set for chop/churn.. within the 1860/40 zone.

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DIS earnings at the close... considering the stock has imploded from the $119s to the $89s..   -a fall of -24% since last November, a bounce would be natural.. regardless of whatever EPS/rev' they provide.
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